Behind the 0.82% increase in ETH: on-chain activity hits a new high, institutional staking continues nonstop

ETH has increased by 0.82% in the past 24 hours, currently trading at $3,156.18. The rise may seem modest, but if you only focus on this number, you’ll miss an important fact: behind this gentle increase, ETH’s fundamentals are quietly strengthening. From on-chain activity reaching new highs to continuous institutional capital deployment, and clear progress on the technical roadmap, ETH is accumulating greater momentum.

Price Performance: Moderate Gains but Steady Trend

According to the latest market data, ETH’s short-term performance shows clear divergence:

Within 24 hours, ETH fluctuated between $2,908.75 and $3,160.55, with a trading volume of $12.205 billion. Its market cap is approximately $380.935 billion, up by $3.112 billion from the previous day. This moderate yet stable trend reflects the market gradually digesting positive news.

Strong Fundamentals: On-Chain Data and Institutional Actions Speak Volumes

On-chain activity hits new highs

The most noteworthy aspect is ETH’s on-chain engagement. According to relevant data, Ethereum achieved multiple historical records on December 31:

• Transaction count hit a new high, with a 7-day moving average of 1.87 million transactions, surpassing the 1.61 million record during the NFT and DeFi boom in May 2021
• Active addresses reached 728,904, the highest since May 2021
• New addresses saw the largest single-day increase since early 2018

What does this mean? It’s not just about transaction activity; more users and capital are actively using the Ethereum network. This is a true sign of ecosystem prosperity.

Technical upgrades reduce costs and attract institutional participation

The surge in on-chain activity is closely related to Ethereum’s technical upgrades. Upgrades like ZK-EVM and PeerDAS significantly lowered transaction fees and enhanced scalability. This directly attracted institutional investors, laying a foundation for further adoption of the network.

Institutional capital continues to deploy

More telling are the actual actions of institutions:

• Companies like Bitmine and other Ethereum treasury entities continue to accelerate staking, with a total of 544,064 ETH staked in the Ethereum staking system, worth about $17 billion at current prices
• Over 35.5 million ETH are currently staked, roughly 29% of the total supply
• Whale addresses and multiple listed companies are increasing their ETH holdings; in the past month, whale address 0x46DB alone bought 51,374 ETH
• The Ethereum spot ETF saw a net inflow of 12,930 ETH (about $39.82 million) in a single day. Despite experiencing over $2 billion outflows during December, recent inflow trends have turned positive

These are not retail FOMO moves but strategic deployments by institutions. They are using real capital to express confidence in ETH’s long-term value.

Validator Queue Nears 1 Million ETH: Staking Enthusiasm Remains High

The current Ethereum validator queue has grown to about 977,000 ETH, with new validators expected to wait nearly 17 days before activation. This number alone speaks volumes—so many institutions and individuals are lining up to become validators, indicating strong confidence in ETH.

The annualized staking yield approaches 2.54%. While not high, for institutions, it’s a stable cash flow. More importantly, staking signifies a commitment to the network’s long-term security.

Clear Roadmap: Expansion Space from 2026 to 2030

Vitalik Buterin has confirmed Ethereum’s technical direction. According to the roadmap, the next few years will see phased progress:

• Starting in 2026, with mechanisms like BAL and ePBS, the Gas limit will gradually increase
• Between 2026-2028, Gas re-pricing and state structure adjustments will be implemented
• From 2027-2030, ZK-EVM is expected to become the main method for validating network blocks, further pushing Gas limit upgrades

This indicates Ethereum is shifting from incremental optimizations to systematic expansion, balancing decentralization, consensus, and high throughput. In other words, ETH’s expansion potential remains substantial.

Summary: A Major Opportunity Beneath Modest Gains

ETH’s 0.82% daily increase may seem insignificant on the surface, but the real story is:

• On-chain activity reaching new highs, indicating ecosystem prosperity
• Continuous deployment and staking by institutional capital, showing professional investors’ confidence in long-term value
• Clear technical upgrade roadmap, opening up expansion space
• Validator queue approaching 1 million ETH, reflecting record-high network security investment

These factors combined provide strong fundamental support for ETH’s future performance. The modest short-term gains may be a sign of building strength. Once these positive fundamentals are fully reflected in the price, it could mark a turning point. The key will be whether technical upgrades proceed as scheduled and whether institutional deployment remains hot.